State Act

The Telangana Co-operative Societies Act, 1964.

12. (1) A society may, 34[xxx] by a resolution decide to- (a) transfer its assets and liabilities in whole or in part to any other society which agrees to such transfer by a resolution; or (b) divide itself into two or more societies; or (c) convert itself into a society of a class different from the one to which it belongs. (2) Any two or more societies may, 34[xxx] by a resolution, decide to amalgamate themselves and form a new society: 35[Provided that where a society under sub-section (1) is a member or two or more societies under sub-section (2) are members of a federal society or in receipt of assistance from a financing bank, such society or societies shall obtain prior consent of the federal society or financing bank for any resolution under sub-section (1) or sub-section (2) as the case may be.] 36[(3) Every resolution of a society under sub-section (1) or sub-section (2) shall be passed at the general meeting by 37[a majority of not less than two-thirds of members present and voting], and such resolution shall contain all particulars of the transfer, division, amalgamation or conversion as the case may be.]